The Chicago Cubs, as things turned out, lost out on free agent third baseman Alex Bregman by much less than people realized.
On the surface, it looked as though the Boston Red Sox winning offer of $120 million over three years clearly topped the Cubs $120 million/four-year offer. It was, literally, the same money for one full season less (plus opt-outs after each season, while the Cubs offered opt-outs only after the ‘26 and ‘27 seasons).
In reality, though, the Cubs lost out by a lot less and it was all because of their refusal to defer money in the deal.
Why The Chicago Cubs Lost Out On Alex Bregman
Per Buster Olney of ESPN, via Twitter/X:
“The deferrals on the Alex Bregman deal are significant — the present-day value of his contract is expected to be assessed in the range of $90 million for three years.”
So, basically, the AAV (Average Annual Value) would’ve been the same in both deals, with just some back-end money coming over time. But, reportedly, the Cubs aren’t doing deferred money anymore.
Per MLB insider Bruce Levine, via Twitter/X:
“Cubs Jed Hoyer said he had many, many emails and text with owner Tom Ricketts about money availability for Alex Bregman. Cubs will not defer money any longer on contract offers. The team is still paying Jason Heyward and Jon Lester on deferred deals.”
Frustration Grows
The revelation of just how, why, and by how little the Cubs lost out on the all-star Gold Glover has brought about plenty of criticism and consternation from fans and media. It’s especially vexing following reports that the team may have lost free agent closer Tanner Scott to the Los Angeles Dodgers also due to their refusal to defer money.
Michael Cerami of Bleacher Nation took to social media in the aftermath of that revelation to voice his own befuddled consternation:
“This is such a weird stance.
Deferrals are pro-team, they literally lower the amount you’re paying.
So you rather just … pay more, sooner? I don’t really get it.”
The Reality Of The Situation
The thing fans and media need to “get” is that that the Cubs ownership is fundamentally conservative and unwilling to go “all in,” despite statements to the contrary. They may have been more bold and generous in their early days of ownership, as they built on their initial investment, but they’ve become considerably more frugal these later years and, unfortunately, that’s probably not going to change.
Losing out– in this manner– on a player like Bregman, who could’ve put the Cubs over the top in their pursuit of postseason play, should make it crystal clear who the Ricketts are, business-wise, and what they’re looking to do with their team.
In short, they’re willing to spend just enough to be competitive enough to keep generating revenue. They aren’t, however, ever going to go over the top to ensure a major championship run.
Per Jon Greenberg of The Athletic:
“For the Cubs, the World Series, once an obsession, is now a destination only in the abstract and it’s still difficult for people in Chicago to handle. Wasn’t the 2016 title, the remodeling of Wrigley Field, the Rickettsization of Wrigleyville and the move to a standalone TV channel supposed to herald a golden financial age? (It’s a rhetorical question.)
I will be pleasantly surprised if the Cubs ever pay top dollar for a marquee free agent again, starting with [Kyle] Tucker. If he stays healthy and hits like he’s capable of, he’ll likely be an ex-Cub by this time next year. He was acquired to help the Cubs win now. Like right now.
Then again, if the $120 million not spent on Bregman is reallocated to a longer deal for Tucker, I’ll happily be proven wrong. But I’m not pre-writing an apology column.”
As the phrase goes, “it is what it is.”
Hopefully, the team did enough to make 2025 a fun, winning season.
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